TELUS Co. (NYSE:TU) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 688,874 shares of the Wireless communications provider's stock after buying an additional 102,321 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in TELUS were worth $9,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TU. Versant Capital Management Inc grew its position in shares of TELUS by 195,100.0% during the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after buying an additional 1,951 shares in the last quarter. Avior Wealth Management LLC grew its holdings in TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after acquiring an additional 4,548 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of TELUS in the 4th quarter valued at approximately $142,000. Triasima Portfolio Management inc. acquired a new stake in shares of TELUS in the 4th quarter valued at $146,000. Finally, Legal & General Group Plc purchased a new stake in shares of TELUS during the 4th quarter worth $190,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

Shares of TU stock opened at $15.16 on Tuesday. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a market cap of $22.95 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 5.18 and a beta of 0.70. The stock's 50-day moving average is $14.88 and its two-hundred day moving average is $14.92.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $0.10 EPS. Analysts predict that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were paid a dividend of $0.2829 per share. This represents a $1.13 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date of this dividend was Tuesday, March 11th. TELUS's dividend payout ratio is currently 226.53%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Finally, Cormark downgraded TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.

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